Author: Randy Lindsey

Hi everyone, it’s Michele again. So, I thought I could just open my charts and start trading my new software without spending time going through all that training. You know, I thought I could save some time and make money too, right? Well, things don’t always work out the way you plan, so here is my first journal entry:

On Friday afternoon, I downloaded my Hawkeye Professional Package and then closed my charts and computer with the intention of getting back to it later that day. Also, I planned to start setting things up and reviewing the website over the weekend. Guess what? Yep, surprise, that didn’t happen.

And here it is Monday, and I haven’t reviewed the software material. I think to myself, “I’ve been trading for a while, and I’m familiar with many indicators, how hard can it be?” So, I thought I could do this.

So I open my charts and my new software, and start trading. (I bet you’re laughing to yourself right now thinking ‘I’ve been there’ and ‘oh, is she going to be in trouble…’) Fast forward a few hours and I am soooo glad I was in Sim mode today!! Yep, total disaster (note: please don’t try anything new with live money!) I did have a couple moments of ‘true brilliance’ I tell myself as it goes to my target. But reality is that most of the day was utter chaos and “willy-nilly” entries.

Why? Because my Ego got in the way; I can read a chart! I can read price action! Why do I need to look at videos and learn the way this software is supposed to work? (She writes “tongue in cheek”).

Ok, let’s go back to my first article to you. Do you remember the reason I bought the Hawkeye system? Because the volatility of the market had increased to a point where my current system Reward:Risk ratio did not work. So then why do I think I can 1) use my current trading style on different colored charts and expect a better outcome (the definition of insanity 😉); and 2) totally throw money away by purchasing a system that I am not taking full advantage of?

Now that I write this on paper, it seems so silly to let my Ego get in the way of my success. The Ego is a wily creature that creeps up on you when you least expect. It takes control and then we/I usually end up in negative P&L territory.

A strong person will recognize when Ego has taken over (it may be in hindsight, but it is recognized all the same). Once recognized, they turn the situation around to where their rational self is back in control. Now they can drive their own “destiny bus” down the Highway.

So, I thought I could jump right into trading without taking the time to learn the new system, and I was so wrong. Now I am off to watch my lesson videos. I can’t wait to see the wonders there! Have a great week everyone!

Join Randy in the next free LIVE Hawkeye Demonstration Room held every Wednesday at 9.30am EST US. You will learn more about volume and volume price analysis and see more examples and live trade setups. It is open to all.

Volume is a leading indicator, signaling the intentions of price ahead of time. You have heard it said that “Volume is the fuel that drives the market”. And traders all over the world gain the edge they are looking for when Hawkeye Volume is coupled with triple timeframes.

Hawkeye Volume and Price

Hawkeye makes volume price analysis simple. The Volume indicator shows whether buying or selling is dominating the market using simple color codes: Red shows professional selling, Green shows professional buying, and White shows no demand. In other words, it doesn’t just tell you the volume, as with other trading software, but it actually tells you whether the volume is professional BUYING or professional SELLING.

Below is a nice example of a 15 minute EURAUD setup:

Notice how just before the big price move down, that Volume signaled the intent of price way before the trend began, shown by the oval and Red price bar extension. The red bar also has a Hawkeye Pivot (yellow dot). Therefore, we expect price to reverse 3-5 price bars after a Pivot. With opposing volume however, it is a compelling signal of market reversal. On top of that, we also see a Price Action Failure, shown by the aqua box on a triple top. Here, volume and price are working together to signal the intent of price to make a substantial move down.

The results were quite rewarding, as this example shows. Using the Hawkeye ATR Levels tool, a 8:1 Reward:Risk value was achieved, yielding a potential +90 pip trade. Note that the entry was a standard Hawkeye setup, following our 3-Step Entry/Exit Method. Our training courses teach this Method. These types of setups occur every day, and Hawkeye Volume is the best at showing you this action.

The Hawkeye Perspective

Don’t sit by and let trades like this pass you up. . . As a core component of all our unique indicators, Hawkeye Volume leads the way to a trading plan that can generate consistent profits daily.

Join me in the next free LIVE Hawkeye Demonstration Room held every Wednesday at 9.30am EST US. You will learn more about volume and volume price analysis and see more examples and live trade setups. It is open to all.

The Fine Print

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Disclaimer

Futures, foreign currency and options trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones financial security or lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

All information provided is for educational purposes only. Hawkeye Traders is not an investment advisory service or a registered investment adviser or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. We may hold positions in the stocks, currencies or market instruments discussed here.

Hawkeye Traders’ Live Training Rooms, Seminars, Webinars, chart examples, videos, mentoring, emails you receive from Hawkeye, and all content on this website are provided for informational and educational purposes only and should not be construed as investment advice. The information demonstrated in the Hawkeye Traders’ Training Room is not intended to provide tax, legal or investment advice, which you should obtain from your professional advisor prior to making any investment of the type discussed in the information.

Futures, stocks, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures, stocks, commodities and Forex markets. Don’t trade with money you can’t afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures, stocks, commodities or Forex. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. Past performance of indicators or methodology are not necessarily indicative of present or future results.

Trading forex involves substantial risk of loss. Trading forex is not appropriate for everyone. Only risk capital should be used to trade. No implication or representation is being made that utilizing the technology will guarantee trading profits or guarantee freedom from risk of loss.

You understand and acknowledge that there is a high degree of risk involved in trading securities and/or currencies. Hawkeye Traders assumes no responsibility or liability for your trading and investment results and you agree not to hold the company liable for any monetary loss and/or damages of any kind. There is a high degree of risk in trading and you should always consult a qualified adviser about the suitability of any investment.

It should not be assumed that the information presented will be profitable or that it will not result in losses. All information including performance reports and charts are based upon simulated trading and do not include slippage or commission unless otherwise stated. Care has been taken in the preparation of the information. However, we do not make any representations or warranties as to the accuracy of the information provided. Information and products provided by Hawkeye Traders rely on data from third party sources which may or may not be accurate and no guarantee is given to the accuracy or completeness of the data used or information provided

Please note that there are additional limitations when attempting to simulate the performance of a trading system which includes short trades due to various short trading regulations and hard/impossible to borrow stocks which cannot be incorporated into the simulated performance. There is a high degree of risk in trading, and short trading can carry additional risk, so you should always consult a qualified adviser about the suitability of any investment.

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Neither TradeStation Technologies, NinjaTrader LLC, MetaStock Software Corp, Tradingview, nor any of their affiliates has reviewed, certified, endorsed, approved, disapproved or recommended, and neither does or will review, certify, endorse, approve, disapprove or recommend, any trading software tool that is designed to be compatible with their respective trading platforms.

Testimonial Disclaimer:
Testimonials within this site were received via email or placed in the comments section of our blog. They are individual experiences, reflecting real life experiences of those who have used our products and/or services in some way or other. However, they are individual results and results do vary. We do not claim that they are typical results that consumers will generally achieve. The testimonials are not necessarily representative of all of those who will use our products and/or services.

CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.